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IIA Internal Audit Function Sample Questions (Q561-Q566):

NEW QUESTION # 561
For which of the following scenarios would the most recent backup of the human resources database be the best source of information to use?

A. An incorrect program fix was implemented just prior to the database backup.
B. There was a data center failure that requires restoring the system at the backup site.
C. There is a need to access prior year-end training reports for all employees in the human resources database
D. The organization is preparing to train all employees on the new self-service benefits system.

Answer: B

Explanation:
The most recent backup is primarily used to restore lost data in the event of a system failure, data corruption, or cyberattack. If a data center failure occurs, the latest backup is the best source to recover the human resources database and resume operations.
* (A) Incorrect - An incorrect program fix was implemented just prior to the database backup.
* If an incorrect fix was applied before the backup, restoring the latest backup would still contain the error.
* The organization would need to restore an earlier version before the faulty update.
* (B) Incorrect - The organization is preparing to train all employees on the new self-service benefits system.
* The latest backup is not needed for training; the live system or historical data would be used instead.
* (C) Correct - There was a data center failure that requires restoring the system at the backup site.
* In the event of a system failure, restoring from the most recent backup minimizes data loss and downtime.
* This is the primary reason for maintaining regular backups.
* (D) Incorrect - There is a need to access prior year-end training reports for all employees in the human resources database.
* Historical records would likely be stored in archived backups or reports, not the latest backup.
* The most recent backup contains current data, not old reports.
* IIA's GTAG (Global Technology Audit Guide) - IT Disaster Recovery and Backup Strategies
* Covers the importance of backups in system restoration.
* NIST Cybersecurity Framework - Data Recovery and Business Continuity
* Recommends frequent backups to protect against system failures.
* ISO 22301 - Business Continuity Management
* Defines recovery procedures and best practices for backup site restoration.
Analysis of Answer Choices:IIA References and Internal Auditing Standards:

NEW QUESTION # 562
One change control function that is required in client/server environments, but is not required in mainframe environments, is to ensure that:

A. Emergency move procedures are documented and followed.
B. Movement from the test library to the production library is controlled.
C. Program versions are synchronized across the network.
D. Appropriate users are involved in program change testing.

Answer: C

NEW QUESTION # 563
At one organization, the specific terms of a contract require both the promisor end promise to sign the contract in the presence of an independent witness.
What is the primary role to the witness to these signatures?

A. A witness verifies the quantities of the copies signed.
B. A witness verifies that the contract was signed with the free consent of the promisor and promise.
C. A witness ensures the completeness of the contract between the promisor and promise.
D. A witness validates that the signatures on the contract were signed by tire promisor and promise.

Answer: D

Explanation:
* Role of a Witness in Contract Signing:
* A witness is a neutral third party who observes the signing of a contract and confirms that the named individuals actually signed the document.
* This helps prevent disputes regarding the authenticity of signatures and provides legal proof of agreement.
* Why Signature Validation is the Primary Role:
* Ensures legitimacy: A witness confirms that the signatures belong to the stated individuals, preventing forgery.
* Legal enforceability: Many jurisdictions require witnesses for contracts to be legally binding in certain cases (e.g., wills, real estate agreements).
* Provides evidence in case of disputes: If a signatory later denies signing, the witness can testify to the authenticity of the signature.
* Why Other Options Are Incorrect:
* A. A witness verifies the quantities of the copies signed - Incorrect.
* A witness does not count copies; their role is to verify authentic signatures.
* B. A witness verifies that the contract was signed with the free consent of the promisor and promisee - Incorrect.
* While witnessing may imply that parties were present, it does not guarantee free consent (coercion concerns require separate legal evidence).
* C. A witness ensures the completeness of the contract between the promisor and promisee - Incorrect.
* Contract completeness is a legal or managerial responsibility, not a witness's role.
* IIA's Perspective on Contract Verification and Internal Controls:
* IIA Standard 2120 - Risk Management requires internal auditors to ensure proper contract validation and documentation.
* COSO Internal Control Framework highlights the importance of contract controls, including witnessed signings for fraud prevention.
* International Contract Law Principles emphasize the role of witnesses in reducing contract disputes.
IIA References:
* IIA Standard 2120 - Risk Management in Contract Management
* COSO Internal Control Framework - Legal Documentation and Witnessing
* International Contract Law Principles - Witnessing Signatures for Legal Validity Thus, the correct and verified answer is D. A witness validates that the signatures on the contract were signed by the promisor and promisee.

NEW QUESTION # 564
Which inventory pricing method generally approximates current cost for each of the following?

A. Option A
B. Option D
C. Option C
D. Option B

Answer: C

Explanation:
FIFO assigns the most recent purchase prices to ending inventory and the earliest purchase prices to cost of goods sold. LIFO uses the earliest acquisition costs to price the ending inventory. It is not permitted by the IFRSs. Thus, FIFO approximates current for ending inventory, and LIFO approximates current cost of goods sold.

NEW QUESTION # 565
Which of the following principles are common to both hierarchical and open organizational structures?
1. Employees at all levels should be empowered to make decisions.
2. A supervisor's span of control should not exceed seven subordinates.
3. Responsibility should be accompanied by adequate authority.
4. A superior cannot delegate the ultimate responsibility for results.

A. 1 and 2
B. 2 and 3
C. 3 and 4
D. 1 and 4

Answer: C

NEW QUESTION # 566
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